Brazil homebuilder Gafisa sees firm demand in low-income segment

Redacción de Reuters

1 MIN. DE LECTURA

SAO PAULO, May 8 (Reuters) - Brazilian homebuilder Gafisa SA sees firm demand for low-cost housing despite a weaker economy, though it expects deals to be harder to close due to wavering consumer confidence.

The company’s landbank, or land held for future development, in its low-income-focused division, known as Tenda, is adequate through 2015, while gross margins for the division should remain in the 28 percent to 30 percent range in the year, executives said on a Friday conference call to discuss first-quarter results. (Reporting by Asher Levine; Editing by Jeffrey Benkoe)